Wall Street Zen upgraded shares of CMB.TECH (NYSE:CMBT – Free Report) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.
Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of CMB.TECH in a research note on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.
Check Out Our Latest Stock Analysis on CMB.TECH
CMB.TECH Stock Down 0.3%
CMB.TECH (NYSE:CMBT – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $1.26 earnings per share (EPS) for the quarter. CMB.TECH had a return on equity of 30.02% and a net margin of 37.19%.The firm had revenue of $703.94 million for the quarter.
Institutional Trading of CMB.TECH
Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in CMB.TECH by 288.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,408,300 shares of the company’s stock valued at $17,815,000 after purchasing an additional 1,045,800 shares during the period. Norges Bank bought a new position in shares of CMB.TECH in the fourth quarter worth $21,956,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CMB.TECH in the first quarter worth $28,965,000. Encompass Capital Advisors LLC raised its position in shares of CMB.TECH by 40.0% in the first quarter. Encompass Capital Advisors LLC now owns 3,500,000 shares of the company’s stock worth $44,275,000 after buying an additional 1,000,693 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in CMB.TECH by 526.9% during the first quarter. Bank of America Corp DE now owns 1,072,822 shares of the company’s stock valued at $13,571,000 after buying an additional 901,688 shares during the period.
CMB.TECH Company Profile
CMB.TECH is a diversified maritime and clean-technology company headquartered in Antwerp, Belgium. The company owns and operates ocean-going vessels across several shipping segments, including dry bulk, container shipping, chemical tankers and offshore wind support. Its activities serve international customers and global trade routes.
In addition to conventional maritime transportation, CMB.TECH develops and applies alternative-fuel and low-emission technologies for shipping. Its clean-technology activities include the use of hydrogen, ammonia and other alternative energy solutions, as well as related fueling infrastructure and applications for marine and other heavy-duty transport.
The company traces its roots to Compagnie Maritime Belge, a Belgian shipping group established in 1895.
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